Stupidly apped for a Lowes card, if approved should I just close it?

[Royalbacon]

Stupidly apped for a Lowes card, if approved should I just close it? I got the 7-10 message and may or may not be approved, but I'm probably not going to call to find out if I was denied or they need verification. I don't shop there and would rather not go in there a few times a year to buy a screwdriver or something cheap to keep the card active. If approved it's my fifth card, is it better to just close it asap if I am approved or keep it open and try to make a purchase a few times a year?

I am definitely going to garden now

Update:Called and was declined. Lowes will be the very first card I was ever declined for. Only reason I can think why is too many inquiries/new cards recently or the fact I closed my JCP card a few months ago, which is also issued by synchrony, and am still paying the balance off that.

I literally just apped and approved for a USBank Cash Rewards last week and an Amex Everyday in August and a Macys back around July/August. Funny USbank is a known conservative lender and I got a approved with 2000 from them and 2000 on an American Express Everyday but yet I didn't get a simple Lowes card hahaha. According to the Credit report I got in the mail after applying for my USBank Cash Rewards my TU score was 684.

Time to garden now, and no more cards for a Longggggggg time.

[Country_Feller]

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@Royalbacon wrote:

Stupidly apped for a Lowes card, if approved should I just close it? I got the 7-10 message and may or may not be approved, but I'm probably not going to call to find out if I was denied or they need verification. I don't shop there and would rather not go in there a few times a year to buy a screwdriver or something cheap to keep the card active. If approved it's my fifth card, is it better to just close it asap if I am approved or keep it open and try to make a purchase a few times a year?

I am definitely going to garden now

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Why would you close it? I wouldn't waste a hp and would most definately call in. I will keep my fingers crossed for you. Is there a reason you want to apply then automatically close if you're approved? Strategy? I'm sorry if I'm asking a dumb question but this is the first time i've read anything like this. Good luck on whatever you decide to do.

[Royalbacon]

I called in and ended up being denied. Not sure why I even applied for it in the first place to be honest, but I won't be doing applying for more cards I don't want/need anymore and will be gardening.

Kind of peeved I was denied though, unless me closing my JCP card with roughly a 2000 balnce out of a $4000 limit a few months back is why because I know GE/Synchrony has their own internal scoring method, or like I said too many inquiries maybe. I literally just apped and approved for a USBank Cash Rewards last week and was approved for $2000 and USBank also pulled Transunion just like Lowes did, and USBank is wayyyyyyy harder to get approved for then a store card issued by Synchrony. My transunion score was 684 in the credit report USBank mailed me when they hardpulled me.

[takeshi74]

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@Royalbacon wrote:

Stupidly apped for a Lowes card, if approved should I just close it?

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You already mentioned you were denied but, generally speaking the damage is already done in such cases.  The time to decide is before applying -- not after.

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@Royalbacon wrote:

Only reason I can think why is too many inquiries/new cards recently or the fact I closed my JCP card a few months ago, which is also issued by synchrony, and am still paying the balance off that. 

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Don't close cards with balances.  They can report at 100% utilization since there is no longer any available credit on the account.

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@Royalbacon wrote:

I literally just apped and approved for a USBank Cash Rewards last week and an Amex Everyday in August and a Macys back around July/August. Funny USbank is a known conservative lender and I got a approved with 2000 from them and 2000 on an American Express Everyday but yet I didn't get a simple Lowes card hahaha.

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Your credit isn't static.  Each time you apply for a new card you're affecting your credit.  Granted, initially it's just the hard pull but when a new account starts to report there is some additional impact.  You cannot simply assume that getting an approval means that you will get another approval.  You cannot expect infinite approvals.  At some point your profile will hit the limit with a given creidtor on what it can handle.  It's not just a matter of whether a creditor is "conservative" or not.  It's your credit profile as well.

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@Royalbacon wrote:

I won't be doing applying for more cards I don't want/need anymore

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That's usually a good strategy.

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@Royalbacon wrote:

Kind of peeved I was denied though, unless me closing my JCP card with roughly a 2000 balnce out of a $4000 limit a few months back is why because I know GE/Synchrony has their own internal scoring method, or like I said too many inquiries maybe. I literally just apped and approved for a USBank Cash Rewards last week and was approved for $2000 and USBank also pulled Transunion just like Lowes did, and USBank is wayyyyyyy harder to get approved for then a store card issued by Synchrony. My transunion score was 684 in the credit report USBank mailed me when they hardpulled me.

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Inquiries are a relatively small factor despite the obsession over them around here.  You have a bit of recent activity which is part of your profile.  Your profile didn't support a new account with that activity.  If  you're peeved then it's your credit profile that you need to be peeved at.  The closed card with a balance probably isn't helping either.  You'd need to verify by looking at your reports.

[Royalbacon]

I do appreciate you for being blunt and not sugar coating it, and live & learn no doubt. Thats why I post here and hang out here.

If the worst i've done in regards to my credit is close a card with a $4000 limit and a $2000 balance and apply for 1 store card and got denied, i'm doing pretty well for a 23 year old.

[kdm31091]

If you barely shop there anyway, and would have to force yourself to go keep it active, why on earth would you have even applied? Since you didn't really want it, I guess you should take the decline as a blessing in disguise!

[ojefferyo]

Inquires was just a lame reason they threw at you, when I applied for it I had alot of inquires from an app spree and was still approved. Maybe there's something they didn't like on your profile.